Bally’s Corporation recently announced its financial results for the third quarter of 2024. Revenue remained relatively stable, but the company reported a significant net loss. Despite these challenges, Bally’s is making progress on key development projects in Chicago and Las Vegas.

  • Company-wide revenue for the quarter was $630 million, showing a 0.4% decrease year-over-year. Revenue from Casinos & Resorts dipped by 1.6% compared to last year. The revenue decline was offset somewhat by growth in the North American market.
  • International Interactive revenue declined by 5.3% to $230.9 million, but UK revenues rose by 11.8%. UK growth was driven by an increase in active customers and the launch of a new sportsbook. Performance in other international markets was weaker, with logistical challenges impacting the segment.
  • North America Interactive revenue surged 54.5% to reach $45.7 million, supported by growth in iGaming. Pennsylvania outperformed, while results in New Jersey lagged. Bally’s continues to receive positive feedback on its iGaming products in this segment.
  • Net loss reached $247.9 million for the quarter, significantly larger than last year’s loss of $61.8 million. This loss reflects various factors, including lower revenue from certain segments and costs associated with ongoing projects. Bally’s remains focused on long-term profitability despite short-term setbacks.
  • Casinos & Resorts segment posted $353.4 million in revenue, a slight decrease from last year. Regional gaming faced challenges, including traffic disruptions affecting Rhode Island’s Lincoln property. Additionally, Atlantic City performance suffered from turnover in marketing staff during a critical season.
  • Chicago project secured $940 million in construction funding, moving the new casino forward. Demolition of the Tribune site is complete, with construction planned to start in 2025. The Chicago location aims to become a flagship addition to Bally’s portfolio.
  • Las Vegas redevelopment progressed with the demolition of the Tropicana hotel towers, paving the way for new construction. This project, adjacent to the planned A’s stadium, will help expand Bally’s footprint on the Las Vegas Strip. The redevelopment is expected to attract a strong customer base and elevate Bally’s presence in the city.
  • Cost optimization efforts are underway to improve efficiency across Bally’s portfolio. The company aims to adjust its cost structure, particularly in the C&R and International Interactive segments. These initiatives are part of a strategy to boost profitability in future quarters.